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Minister of Tourism signs 11 usufruct agreements for setting up projects in Oman

May 2, 2019

The Ministry of Tourism signed a usufruct agreement with Bin Sheikh Holding Company to set up a tourism investment project in wilayat Seeb of Muscat governorate on Thursday, May 2,  2019. This project is comprised of Omani heritage markets or souqs, hotel facilities, a cultural and commercial centre, restaurants, cafes and harbour in an area of 97,804 meters.

His Excellency Ahmed bin Nasser Al Mshrazi, Minister of Tourism signed the agreement on behalf of the government of the Sultanate. The investing company was represented by Mohsen bin Mubarak Khawar. The project is part of the plans to develop integrated tourism complexes, where the investor would undertake the construction and development of the land as per the engineering concept agreed upon by the Ministry of Tourism.
He also signed 10 other tourism projects under the usufruct system to develop various hotels, hotel apartments, tourism resorts, restaurant complexes and tourist camps in various governorates of the Sultanate. All this is part of the efforts being made by the Ministry of Tourism to promote investment in tourism sector in all governorates of the Sultanate.
An agreement was signed for the Musandam governorate to establish a three-star hotel and a three-star tourist resort there. Another agreement was signed with Nakhl National Company to build a three-star hotel and a restaurant complex in the South Al Bathinah governorate. For the North Al Sharqiyah governorate, agreement was signed to set up two tourist camps.
The Minister of Tourism also signed an agreement to set up a three-star tourist resort and a tourist restaurant in Al Dakhliyah governorate. In the Dhofar governorate, two agreements were signed for establishing a two-star hotel and hotel apartments. In North Al Bathinah governorate, a three start hotel would be build under an agreement. Another agreement was signed to build a tourism resort in Muscat governorate .
Mohammed bin Hammoud Al Zadjali, Director General of Investor Services and Quality Management at the Ministry of Tourism, said that the signing of the usufruct agreements was part of the efforts of the to encourage investment in the tourism sector of the Sultanate. This is expected to increase tourism facilities and services to cope up with the requirements of the economic developments of the country and diversify sources of national income as aspired by the government. It would  add value to the tourism sector of the country if requirements for hotel rooms and tourist facilities are met.
Al Zadjali said that these projects would serve the local communities by creating employment opportunities for Omani youth and enriching the local market. He said that the tourism investment projects were in line with the growth achieved by the sector which demands increased hotel establishments of different classifications. These agreements which were signed by the ministry strengthens the efforts made by the government to empower the tourism sector as one of the five major sectors adopted in the national program to promote economic diversification, he said.
Mohammed Al Zadjali said that private investment in the tourism sector was moving forward.  Investments are being made in projects such as tourist facilities, hotels or integrated tourist complexes.
Mohsen bin Mubarak Khawar, Chairman of the Board of Directors of Ben Sheikh Holding Company, lauded the efforts made by the government which is represented by the Ministry of Tourism to encourage investment in the sector by providing all sorts of facilities necessary for investment in the area.
He said that this project was aimed at supporting the efforts made by the tourism sector of the Sultanate. It would help in increasing hotel establishments and facilities to cope with the growth in the tourism sector seen in the Sultanate. He said that the project would be an important addition to the tourism sector of the country. It would comprise of certain tourism services which have traditional cultural elements along modernism and highlight civilizational aspects of the tourism projects of the Sultanate. (ENDS)